Crypto Hacks and Exploits Peak Year-to-Date in July: Report

<p>The amount of money lost through hacks and exploits in
the cryptocurrency sector surged to the highest level year-to-date in July at USD $303 million. The security platform focusing on blockchain
technology, Certik, released an update about the losses today (Monday).</p><p>According to the company, the blockchain bridging platform Multichain reported the highest losses, worth USD $125 million, from exploits. Multichain ceased operations in July, and its CEO Zhaojun was reportedly arrested by law enforcement agencies in China.</p><p>Losses from Exit Scams</p><p>The highest amount lost through attacks on flash loans
was USD $3.2 million on Conic Finance, while the most amount lost
through exit scams was USD $1.9 million on Kannagi Finance. The total losses
year-to-date from exploits, exit scams, and flash loans are USD $580 million,
USD $123 million, and USD $255 million, respectively.</p><p>On top of that, the total losses year-to-date due to
hacks and exploits have reached USD 961 million. The amount lost
to exploits is USD $285 million, while that lost to flash loans and exit scams is USD $8.7 million and USD $8.6 million, respectively.</p><blockquote><p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/CertiKStatsAlert?src=hash&amp;ref_src=twsrc%5Etfw">#CertiKStatsAlert</a>